TA: Bitcoin Surge To $60K On The Horizon, As Bears Show Weak Hands

TA: Bitcoin Surge To $60K On The Horizon, As Bears Show Weak Hands


Bitcoin extended its rally above the $55,000 resistance against the US Dollar. BTC could correct lower, but the bulls might aim more gains towards $60K.

Bitcoin climbed higher above the $52,000 and $54,000 resistance levels. The price is now trading above $53,000 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $53,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $55,500 and $56,500 resistance levels in the near term. Bitcoin Price Extends Rally

Bitcoin price started a strong increase above the $50,000 resistance. BTC even broke the $52,000 resistance level and settled above the 100 hourly simple moving average.

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The upward move

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